You are here
Investors of 'Old Noble' being allocated shares in new unlisted entity
INVESTORS still holding on to shares of the formerly SGX-listed Noble Group will need to register with the appointed trustee by Dec 20 to receive their shares in the unlisted entity, Noble Group Holdings (NGH).
NGH was formed in the second half of 2018, after the embattled Noble Group underwent restructuring. Unlike the powerful commodities trader, NGH operates on a much smaller scale as an energy products and industrial raw materials supply chain manager.
In a press release on Thursday, NGH announced that its trustee, Lucid Issuer Services, has started allocating shares in the new unlisted entity to shareholders of "Old Noble" (a reference to the former listed company).
Under the terms of the restructuring, shareholders of Old Noble are entitled to one share in the unlisted entity for every ten shares held in Old Noble. Fractional entitlements will be rounded up to the nearest whole share.
To receive their allocation, Old Noble shareholders will need to register with Lucid online, and will subsequently be prompted to set up an account with Fluyd, a sister company of Lucid. After KYC (know your customer) checks, the share transfer will be conducted.
The shares will only be issued in electronic form and held via investors' Fluyd accounts. There will be no public market or publicly-quoted prices for the shares.